Feb 22 (Reuters) - Western Energy Services Corp,
owner of the sixth-largest fleet of drilling rigs in Canada,
will buy IROC Energy Services Corp for about C$157
million ($154 million) to add rigs used in maintaining oil and
gas wells.

IROC's 51 well-servicing rigs operate mainly in Western
Canada's oil-rich shale fields, which is likely to benefit
Western Energy as oil wells need more maintenance than gas
wells.

Western Energy, which had 49 drilling rigs and seven newly
built service rigs as of December, will also gain an entry into
the oilfield equipment rental business.

"All of IROC well-servicing rigs are ideally suited for the
continued demand for workover services as a result of the number
of producing oil wells," Western Energy said in a statement on
Friday.

The deal, valued at about C$193.7 million including debt, is
Western Energy's second-largest acquisition.

The Calgary-based company will pay IROC an equivalent of
C$3.10 per share in cash and stock, a premium of 31 percent to
IROC's closing price on Thursday.

Western Energy, whose customers include Apache Corp,
Imperial Oil Ltd and Husky Energy Inc, said
IROC has agreed not to solicit or initiate talks regarding any
rival bid. The deal is expected to close by April 30.